New Issue: CIBC prices $46.02 million Accelerated Return Notes on financial stocks

By Marisa Wong

Morgantown, W.Va., April 11 – Canadian Imperial Bank of Commerce priced $46.02 million of 0% Accelerated Return Notes due June 3, 2019 linked to a basket of financial sector stocks, according to a 424B2 filing with the Securities and Exchange Commission.

The basket consists of Citigroup Inc. with a 33.33% weight, JPMorgan Chase & Co. with a 33.33% weight and Morgan Stanley with a 33.34% weight.

The payout at maturity will be par of $10 plus 300% of any basket gain, subject to a maximum return of 21.75%. Investors will be exposed to any basket decline.

BofA Merrill Lynch is the underwriter.

Issuer:	Canadian Imperial Bank of Commerce
Issue:	Accelerated Return Notes
Underlying stocks:	Citigroup Inc. (Symbol: C) with a 33.33% weight, JPMorgan Chase & Co. (Symbol: JPM) with a 33.33% weight and Morgan Stanley (Symbol: MS) with a 33.34% weight
Amount:	$46,019,100
Maturity:	June 3, 2019
Coupon:	0%
Price:	Par of $10
Payout at maturity:	Par plus 300% of any basket gain, capped at 21.75%; exposure to any basket decline
Initial share prices:	$68.26 for Citigroup, $108.00 for JPMorgan and $52.91 for Morgan Stanley
Pricing date:	March 28
Settlement date:	April 5
Underwriters:	BofA Merrill Lynch
Fees:	2%
Cusip:	13606M631

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